Streetbeat News

Equity Actions

MRT

Marti has announced a share repurchase program authorized by its Board of Directors, allowing the company to buy back up to $2.5 million of its Class A ordinary shares. This represents about 7.9% of Marti's market capitalization based on the closing price of $0.6510 on January 9, 2024. The repurchase program is effective immediately and will last for six months.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:10 pm

WERN

Werner Enterprises has announced the appointment of Nathan Meisgeier as President, effective January 5. This strategic leadership change could signal a new direction or continued growth for the company.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:06 pm

REBN

Reborn Coffee, Inc. (NASDAQ:REBN) has received a $1M private placement equity commitment from its Chairman, Farooq Arjomand. This investment is a strong vote of confidence in Reborn's valuation and growth potential, coinciding with the opening of its flagship store in Malaysia and planned expansion into Dubai and Southeast Asia. The company aims to leverage this investment to enhance product offerings, expand market reach, and continue innovating within the coffee industry.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:05 pm

IVA

Inventiva (NASDAQ:IVA) has drawn down the second €25 million tranche of its loan agreement with the European Investment Bank to fund its NATiV3 Phase III clinical trial for lanifibranor in NASH patients. The loan has a 7% interest rate, a 3-year maturity, and repayment is expected after the trial results in H1 2026. The funds extend Inventiva's cash runway until Q3 2024. The company issued 3,144,654 warrants to EIB with an exercise price of €3.95, potentially raising €12,421,383 if exercised.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:03 pm

O

Realty Income (NYSE:O) has received mixed analyst ratings over the past quarter, with 6 analysts offering opinions ranging from bullish to indifferent. The average 12-month price target is $60.25, with a high of $67.50 and a low of $48.00, marking a slight decrease from the previous average of $61.12. Analysts from firms including Mizuho, Exane BNP Paribas, Wolfe Research, RBC Capital, and Stifel have updated their ratings and price targets, reflecting their views on the company's performance and market conditions. Realty Income owns a diverse portfolio of properties and has shown strong revenue growth and net margin, but below-average ROE and ROA. Its debt-to-equity ratio is below industry norms, indicating a sound financial structure.

Portfolio Pulse from Benzinga Insights

January 10, 2024 | 9:01 pm

ARKK

BTCUSD

Cathie Wood, CEO of ARK Invest, anticipates the potential approval of the Ark21Shares Bitcoin ETF (ticker 'ARCB') as a significant event for Bitcoin. She targets $4 billion in inflows from institutional investors, despite a longer due diligence process. Wood remains optimistic about the future of digital asset ETFs, though acknowledges the SEC's role in the process. She previously predicted a $1 million Bitcoin price in the next 5-7 years.

Portfolio Pulse from Khyathi Dalal

January 10, 2024 | 8:39 pm

HODL

Cboe has announced the new listing of VanEck Bitcoin Trust, which will trade under the ticker symbol 'HODL' with CUSIP 92189K105. The first date of trading is scheduled for Thursday, January 11, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 7:37 pm

AMGN

Amgen (NYSE:AMGN) has seen an 11.84% increase in short interest since its last report, with 9.06 million shares sold short, representing 1.7% of available shares. It would take about 3.11 days to cover all short positions based on current trading volume. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a price drop. Amgen's short interest is below its peer group average of 5.78%.

Portfolio Pulse from Benzinga Insights

January 10, 2024 | 7:30 pm

AMRN

Amarin Corp PLC (NASDAQ:AMRN) shares surged approximately 28% following the release of their preliminary Q4 FY23 results, which exceeded consensus estimates. The company expects Q4 revenue between $72 million and $74 million, against a consensus of $62.03 million, and FY23 revenue between $304 million and $306 million, compared to $294.16 million consensus. Amarin ended 2023 with about $321 million in cash and investments and a positive cash flow of around $10 million. The company also announced a share buyback program with Cantor Fitzgerald & Co. to repurchase up to $50 million in shares, expected to be completed by the end of Q2 2024. Amarin's President & CEO highlighted the company's strong cash position, debt-free status, and progress in various business areas.

Portfolio Pulse from Lekha Gupta

January 10, 2024 | 7:24 pm

ARKB

Cboe has announced the new issue notification for the ARK 21Shares Bitcoin ETF, which will begin trading on Thursday, January 11, 2024. The ETF will trade under the ticker symbol 'ARKB' and has been assigned CUSIP 040919102.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 7:17 pm